Stock Market Highlights Today: Nifty gained 35 points, is the uptrend maturing or just beginning? – 7th July 2026

Indian equities extended gains for a fifth straight session on Tuesday, with the Nifty 50 holding above 24,450 and the Sensex adding over 150 points, as IT stocks rallied on Q1 earnings optimism and foreign investors stayed net buyers while crude prices hovered near pre-war levels.

Market overview

Index	7 Jul 2026 Close	Move & % Change	Comments
Sensex	approx. 80-pt above previous close	+150 pts (approx. +0.2%)	Extended winning streak to five sessions.
Nifty 50	24,464.45	+34.11 pts (+0.1%)	Held above 24,450, intraday strength in largecaps.
Nifty Midcap 100	approx. level	+0.2%	Broader markets participated, modest gains.
Nifty Smallcap 100	approx. level	+0.2%	Opened in green alongside benchmarks.
India VIX	near 12	slight uptick	Volatility inched higher from low base.

Note: figures are approximate; final exchange data not available at time of publication.

• Fifth consecutive session of gains for Sensex and Nifty.
• Advance-decline on NSE nearly balanced: 1,180 advances, 1,165 declines, 124 unchanged.
• Foreign portfolio investors bought ₹243 crore of equities on Monday, per provisional NSE data.
• Market supported by softer crude, stable macro and expectations around Q1 earnings.

Key movers

Top gainers

Stock	Sector	Notable Factor
HDFC Bank	Banking	Among top Sensex gainers, up over 1%.
Eternal	Not specified	One of the strongest gainers on Sensex.

Note: figures are approximate; final exchange data not available at time of publication.

• Large private banks and select financials aided index gains.
• IT heavyweights TCS, Infosys, HCLTech and Wipro advanced on Q1 optimism.

Top losers

Stock	Sector	Notable Factor
Trent	Retail	Parent of Zudio, fell over 9% on Q1 business update reaction.

Note: figures are approximate; final exchange data not available at time of publication.

• Profit-taking seen in select recent outperformers in the broader market.

Sectoral action

Sector / Index	Direction (approx.)	Key Drivers
Nifty IT	up 2.6% (early trade), over 0.7% by mid-session	Gains in TCS, Infosys, HCLTech, Wipro on Q1 earnings optimism.
Nifty Metal	down (marginal)**	Sector slipped into red, some profit booking.
Nifty Realty	down (marginal)**	Weakness amid rotation into largecaps and IT.

Note: figures are approximate; final exchange data not available at time of publication.

• IT led sectoral gainers, helped by expectations of healthy Q1 numbers.
• Broader participation remained positive despite mixed sectoral cues.

Technical outlook on Nifty and Sensex

• Nifty reclaimed its 200-day exponential moving average (200-DEMA) after a four-month gap.
• Index is approaching a resistance zone between 24,482 and 24,520.
• Monday’s close above 24,400 improved odds of a move towards 24,800-25,250.
• Immediate resistance is seen near 24,600, where rejection trades are possible.
• Key downside marker for the session cited around 24,360.
• For many strategists, a sustained Nifty move to 26,000 or above could warrant profit booking in stocks that have run up sharply.

Macro cues and flows

Statistic	Value / Change	Context
Brent crude futures	$72.29 per barrel (+0.39%)	Near pre-war levels, easing inflation concerns.
Brent crude (intraday)	around $73 per barrel	Supported after tanker incident in Strait of Hormuz.
WTI crude futures	around $69 per barrel	Still well below prior conflict highs near $120.
FPI flows (Mon)	₹243 crore net buy	Fourth straight session of net buying, per NSE provisional data.

Note: figures are approximate; final exchange data not available at time of publication.

• Crude prices remain far below peaks hit during the Iran-US conflict period.
• Softer oil is seen as supportive for inflation and the interest rate outlook.
• Domestic flows from mutual funds and insurers continue to provide a buffer during corrections.

• “The FPI buying is not yet a strong trend, but the fact that they have stopped selling and turned buyers is a significant shift”

– VK Vijayakumar, Chief Investment Strategist, Geojit Investments.

• Auto retail sales in June grew 22%, signalling firm domestic demand.
• Analysts expect low interest rates and strong credit growth above 17% to support autos and financials.

Global and structural context

Market / Asset	Movement	Notes
GIFT Nifty	positive bias	Indicated a firm start for Nifty 50.
Most Asian markets	lower	Weighed by concerns over technology stock valuations.
Samsung Electronics	down about 7%	Dragged regional tech sentiment.

Note: figures are approximate; final exchange data not available at time of publication.

• Domestic equities outperformed several Asian peers despite regional tech weakness.
• Market sentiment has improved as tensions in West Asia eased and oil trade disruptions moderated.

Strategy views and long-term scenarios

• Some analysts see distinct signs of an uptrend as crude eases and FPIs turn buyers.
• Autos, financials, oil and gas and telecom majors are expected to support the next leg of the rally.
• Largecaps are seen leading, with retail flows aiding broader markets.
• Market valuations are described as neither expensive nor cheap, with Nifty PE around 21.
• Upcoming Q1 earnings season is viewed as critical for the next move in Nifty and Sensex.

• “The upcoming earnings season will be very important in deciding the direction of the Nifty and Sensex”

– Equity research commentary cited in market analysis.

• A separate global brokerage scenario assigns:

– 25% probability to a bull case with Sensex at 1,00,000 over 12 months.

– 50% probability to a base case with Sensex at 89,000.

– 25% probability to a bear case with Sensex at 66,000.

• Base case implies a trailing PE of 23.5x for Sensex, slightly above its 25-year average of 22x.
• The brokerage expects Sensex earnings CAGR of 16% in the base case and 19% in the bull case through FY29.
• It highlights supportive factors: an undervalued currency, moderate real rates and fiscal stability.
• Preferred sectors include domestic cyclicals: Financials, Consumer Discretionary, Industrials and IT.
• It remains underweight on Energy, Materials, Utilities and Healthcare.

• “The coming quarterly earnings season should therefore offer useful signals, and we expect an upside surprise given strong high-frequency indicators”

– Ridham Desai, India equity strategist, Morgan Stanley.

• Structural reforms to liberalise foreign portfolio investment and a healthy IPO pipeline are seen as medium-term supports.
• Key risks flagged include global growth slowdown, geopolitical tensions and domestic structural challenges in agriculture and judicial capacity.

Frequently Asked Questions

Why did the Nifty stay above 24,450 today?

The Nifty held above 24,450 as IT stocks rallied on Q1 earnings optimism, banks like HDFC Bank gained over 1%, crude stayed near $72-73 per barrel, and foreign investors remained net buyers for a fourth straight session.

Which sectors led and lagged the market in todays trade?

Information technology led gains, with TCS, Infosys, HCLTech and Wipro lifting the Nifty IT index, while Nifty Metal and Nifty Realty slipped into the red on profit-taking and sectoral rotation.

What are the key technical levels to watch for the Nifty now?

Analysts are watching resistance between 24,482 and 24,520, with a potential upside target zone of 24,800-25,250 if momentum sustains, and a near-term downside marker around 24,360 for risk management.